Polyhydroxy Butyrate Industry - Regional Synopsis
APAC Market Forecast
Asia Pacific industry is anticipated to hold largest revenue share of 28% by 2037. The growth of the market is due to the increasing demand for polyhydroxy butyrate from various end-use industries such as agriculture, pharmaceutical, automotive, and food. The total number of passenger vehicles sold rose from 30,69,523 to 38,90,114. In comparison to the prior year, sales of passenger cars grew from 14,67,039 to 17,47,376, utility vehicles from 14,89,219 to 20,03,718, and vans from 1,13,265 to 1,39,020 units in FY-2022–2023.Moreover, the demand for biodegradable products is expected to increase in developing countries such as China, India, and Japan on account of the rise in food and pharmaceutical industries in these countries.
Europe Market Statistics
The polyhydroxy butyrate market in Europe is attributed to hold 25% of the revenue share by the end 2037. The growth of the region is due to the growing biodegradable packaging and paper industry. Countries in this region such as Germany, the UK, Italy, and Sweden are anticipated to be leading consumers of polyhydroxy butyrate markets that are expected to witness significant growth in the region and have appeared as leading markets and are projected to observe remarkable growth in the near future.
